Global investment firm Carlyle extends reach in Canada; purchases oil and gas firm Parallax (updated)

Carlyle

14/09/2026 17:56

Updates with deal valuation
By Amanda Stephenson
CALGARY, Sept 14 (Reuters) - Global investment firm Carlyle CG.O is expanding its reach in Canada through the acquisition of the privately owned Canadian oil and gas company Parallax.
The acquisition is the second in 12 months by Carlyle's energy group, which last year acquired Kiwetinohk Energy for approximately C$1.4 billion.
Carlyle has established a newly formed Canadian company called Avenrock Energy, which has reached a deal to acquire Parallax from Carnelian Energy Capital.
Financial terms of the deal were not disclosed. Sources pegged the total enterprise value of the deal at approximately C$1 billion and said Parallax's gross production is 20,000 boepd.
Parallax is an established Western Canadian company operating in the East Shale Duvernay in Alberta, with approximately 300,000 acres and a substantial production base focused predominantly on light oil and natural gas liquids.
Avenrock aims to establish a significant operating presence in Western Canada, with a focus on the continued development of the Parallax asset base to build out a leading Western Canadian light oil platform, according to a release.
     

(Reporting by Amanda Stephenson in Calgary; Editing by Will Dunham
Editing by Nick Zieminski)
((amanda.stephenson@thomsonreuters.com))